Energy plan to respond to the gas crisis, immediately 140 billion, savings and alternative sources: the speech on the State of the Union by Von der Leyen.
A cap on the revenues of the companies that produce electricity it brings 140 billion in the EU coffers to help Member states to support the economic repercussions of the dear energya contribution from oil companies, a price cap on the price of gas by finding a bilateral agreement with the various suppliers, a hydrogen bank and a Raw Material Act for rare earths: these are the strategic points of the EU plan for energy, illustrated by the President of the Commission Ursula Von der Leyen.
The energy plan addresses the economic emergency on the gas market caused by the war in Ukraine and the Russian gas crisis. Let’s see the details.
EU Energy Plan: storage and new markets
“We have reached an agreement on the storage in common. We are currently at 84%: we have exceeded the target we set for ourselves »explained Von del Leyen before the MEPs, in his speech on the State of the Union. «We have diversified the supply, abandoning Russia in favor of reliable suppliers: the United States, Norway, Algeria and others ». On the front ofautonomy from Russiafinally, the European strategy has already produced the following results: «last year Russian gas accounted for 40% of our gas imports. Today the percentage has dropped to 9% for gas via pipeline ».
Energy savings obligation
To the supply problems are added the tensions on the market: the gas price it has increased tenfold, with an impact on the bills for businesses and citizens. To argue the capacity of businesses European companies to respond to the emergency, the president cites the example of an Italian SME: “in the ceramics factories of Central Italy the workers have decided to shift shifts early in the morning to benefit from lower energy rates”.
“I want the Union to take an example from its citizens,” continues Von del Leyen, introducing the theme of new rules savings that all countries are required to apply, reducing demand during peak hours, stresses the EU president, without going into the details of the quantification (there was talk of consumption reduced by 5% during peak hours). Von del Leyn merely points out that the energy saving “It will make stocks last longer and lower prices.”
The knot of the roof at the price of gas
Among the most anticipated points of the speech, that on price cap at the price of gas: all postponed to the end of the month, in search of an agreement between the EU partners. The orientation on which consensus is being gathered is on a general “price cap” and not limited to Russian methane.
We will work out together with the Member States a series of measures that take into account the specificities of our relations with suppliers, from the most unreliable ones like Russia to trusted partners like Norway.
Pending decisions on the gas price ceiling, and in general on the reduction of prices, the EU plan introduces market rebalancing measures:
- maximal for the income of companies that produce low-cost electricity (the 140 billion measure),
- contribution of crises to oil, gas and coal companies,
Immediate savings strategies must be included in a broader energy plan. Between the best practice Denmark is mentioned. In the 1970s, it did not just respond to the oil crisis but developed an investment plan in alternative energies correctly interpreting the SOS represented by an excessive dependence on the oil market. “When the oil crisis broke out, Denmark started investing heavily in wind energy. It laid the foundations of its world leadership in the sector and created tens of thousands of new jobs ».
The future of the energy market
Other positive examples of green transformation of the energy market cited by the EU President:.
- North Sea and Baltic, Member States have invested heavily in offshore wind,
- Sicily, soon the largest photovoltaic factory in Europe will produce the latest generation solar panels,
- Northern Germany, regional trains now run on green hydrogen.
Among the fuels that Europe focuses on ishydrogen, which must move from a niche market to that of mass. The lens already inserted in Repower EU is to produce ten million tons of renewable hydrogen per year by 2030. “To do this, we need to create a market facilitator for hydrogen to bridge the investment gap and link future supply and demand,” explains Von der Leyen, announcing the project of the European Hydrogen Bankin particular by using the resources of the Innovation Fund, amounting to 3 billion euros.CopyAMP code
Crisis of raw material
From measures that aim to solve or mitigate the current phase of difficult supply to those for the future. Soon, «the lithium and the Rare lands they will acquire more importance than oil and gas “,” the demand for rare earths alone will be fivefold by 2030 “.
The next steps in Europe
The EU Plan will be considered by an upcoming European Energy Council at the end of the month. In sight, three weeks of negotiations between the Member States. «Europe is headed towards a series of measures and towards a price cap. We hope that the expected results will arrive in the next two or three weeks ”, summarizes the Italian Minister of Energy, Roberto Cingolani.
The Italian plan for energy saving
The Italian plan, as is well known, provides for interventions on the market, always in the name of differentiation from Russian gas, energy savings and a green turn. With regard to immediate measures, resume gas production, especially in existing sites: “we can produce 5-6 billion cubic meters more in the next few years every year, with zero environmental impact in the sense that what we produce in the more we reduce it from imports », summarizes Cingolani.
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